Tag: Budget and National Planning

President Buhari Presents 2017 Budget To National Assembly

Buhari To Present 2017 Budget To National Assembly On WednesdayNigeria’s President, Muhammadu Buhari, has presented the 2017 appropriation bill to a joint session of the National Assembly.

The President gave the assurance that there will be no such thing as budget padding in the document.

He condemned what he termed injecting rogue projects and figures into the financial document, saying it is unfair to Nigerians and detrimental to the growth of the economy.

Meanwhile the Minister of Budget and National Planning, Udoma Udoma says the federal government intends to spend 10 trillion naira and will issue new oil licenses as part of efforts to explore new streams of revenues to fund the 2017 budget.

Udoma made this known when he appeared before the Senate joint committee on appropriation and finance to defend the revised Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).

He said that the federal government would also review the current joint venture arrangements with oil companies, marginal oil fields as well as mount pressure on revenue generating agencies to surpass expected targets.

Udoma said a total of 10 trillion was being targeted by the federal government as revenue for the 2017 fiscal year.

According to him, out of this amount, about 5 trillion Naira is expected to be generated from the sale of crude oil. Non-oil revenues will rake in about 5.06 trillion Naira.

 

Tough Times Are Ahead For Nigerians – Udo Udoma

Udo-UdomaThe Minister of Budget and National Planning, Senator Udo Udoma, has urged Nigerians to brace up for tough times ahead because of the negative economic and social issues happening across the globe.

Speaking at an interactive session with the Senate Committee on Finance and Appropriation, Senator Udoma said that the federal government would cut all frivolous expenditure in the 2016 budget and overheads will be reduced by 7%.

The Central Bank Governor, the Group Managing Director at the Nigeria National Petroleum Commission (NNPC) as well as the Ministers of Finance, were also at the forum to discuss the 2016 Medium Term Expenditure Framework (MTEF) with members of the senate committee.

The Minister of National Planning explained how the federal government arrived at the indices in the MTEF while the NNPC boss, who is also Minister of State for Petroleum, Dr. Ibe Kachikwu, gave a breakdown of the oil and gas sector, including how much has been spent on petroleum subsidy in 2015.

In the Medium Term Expenditure Framework, the 6.077 trillion naira budget with a revenue target of 3.82 trillion naira, projects a deficit of 2.22 trillion naira and projects that recurrent expenditure would drop from 84% in the 2015 budget to 70% in 2016.

The Minister of Finance, Kemi Adeosun, explained how the federal government plans to cut recurrent expenditure.

In the proposed framework, capital expenditure of 16% in the 2015 budget was raised to 30% in 2016 but with dwindling oil prices, economic analysts have expressed concern about how government intends to fund the 2016 budget.

The Chairman of the Federal Inland Revenue, Mr Babatunde Fowler, said that one of the strategies which the federal government intends to use is by blocking loopholes and opening up the tax base.

Buhari Swears In Permanent Secretaries

BuhariPresident Buhari has again said that his administration will not condone excesses, indifference, incompetence and corrupt practices in any form.

The President was addressing 16 of the 18 new Permanent Secretaries newly appointed in the Federal Civil Service immediately after their swearing in at the council chambers.

He said that the civil service is a reservoir of experience, expertise and loyalty and a dependable ally in his quest to change the country for the better.

The President observed that the success of the civil service would largely depend on the Permanent Secretaries, as they are not only the chief advisers to the ministers, but also responsible for safe-guarding public funds and ensuring the propriety of expenditures under their control.

He said that they are also expected to ensure the full implementation of government programmes and policies aimed at reinvigorating the national economy.

President Buhari noted that they have been chosen at a time the country’s revenue base is low, and called for emergency action.

He said that their selection followed a more rigorous process, a departure from the past when they would have undergone written and oral examination, charging them to defend this position of trust.

The President stated that he considered the civil service as a dependable ally in the era of change and promised to give them all the necessary support to do their work.

Two of the newly appointed were said to be outside the country and would be sworn in later.

 

Buhari Approves Appointment Of 18 New Permanent Secretaries

Muhammadu-Buhari-Nigeria-President-2President Muhammadu Buhari has approved the appointment of 18 new Permanent Secretaries in Nigeria’s Federal Civil Service, replacing earlier sacked ones.

The President also approved the deployment of the Permanent Secretaries, collapsed some Ministries and announced the establishment of new ones.

The new ministries are; Information and Culture, Budget and National Planning, Agriculture and Rural Development.

Although no reason was given for the decision, the spokesman for the President, Mr Femi Adesina, said that the appointments and deployments were with immediate effect.

New Appointments

The newly appointed Permanent Secretaries are Mrs Ayotunde Adesugba, Mr Mahmoud Isa-Dutse, Mr Taiwo Abidogun, Dr. Bukar Hassan, Mrs Wakama Belema Asifieka, Mr Jalal Ahmad Arabi, Mr Sabiu Zakari, Mrs Obiageli Phyllis Nwokedi and Mr Aminu Nabegu.

Others are Mr Bamgbose Olukunle Oladele, Mr Alo Williams Nwankwo, Dr. Shehu Ahmed, Mr Ogbonnaya Innocent Kalu, Mrs Nuratu Jimoh Batagarawa, Mr Christian Chinyeaka Ohaa, Mr Bassey Apkanyung, Mr Louis Edozien and Dr. Ugo Roy.

A statement by Mr Adesina gave a breakdown of the deployment, as approved by President Buhari.

Breakdown of Deployment

1. Dr. Shehu Ahmad     –   Federal Ministry of Agric & Rural Development
2. Arch Sunday Echono    –       Federal Ministry of Communications
3. Alh. Sabiu Zakari   –   Federal Ministry of Transportation
4. Mrs. Ayotunde Adesugba   –   Federal Ministry of Information & Culture
5. Amb. Danjuma Sheni     –   Federal Ministry of Defence
6. Dr. Shade Yemi-Esan     –   Federal Ministry of Education
7. Mrs. Fatima Mede    –     Budget & National Planning
8. Alh. Mahmoud Isa Dutse    –   Federal Ministry of Finance
9. Amb. Bulus Lolo   –   Federal Ministry of Foreign Affairs
10. Dr. Amina Shamaki – Federal Ministry of Health
11. Mr. Aliyu Bisalla    –  Federal Ministry of Industry, Trade & Investment
12. Mr. Bassey Akpanyung   –   Federal Ministry of Internal Affairs
13. Mr. Taiwo Abidogun   –   Federal Ministry of Justice
14. Dr. Habiba Lawal  –   Federal Ministry of Science & Tech.
15. Dr. Clement Illoh   –   Federal Ministry of Labour & Productivity
16. Dr. Jamila Shu’ara   –   Federal Ministry of Petroleum Resources
17. Mrs. Binta Bello –   Federal Ministry of Women Affairs
18. Dr. Babatope Ajakaiye – Federal Capital Territory
19. Mrs. Rabi Jimeta   – Federal Ministry of Water Resources
20. Dr. Bukar Hassan   – Federal Ministry of Environment
21. Mrs. Wakama B. Asifieka – Federal Ministry of Niger Delta Affairs
22. Mr. Istifanus Fuktur – Federal Ministry of Solid Minerals
23. Mr. Christian Ohaa – Federal Ministry of Youth & Sports
24. Engr. A.G. Magaji – Federal Ministry of Works & Housing
25. Mr. Louis Edozien – Federal Ministry of Power
26. Mr. Jalal Arabi – State House
27. Mr. Mohammed Bukar – General Services Office, OSGF
28. Mr. Abbas Mohammed – Ecological Fund Office, OSGF
29. Dr. Ugo Roy – Council Secretariat
30. Mr. Aminu Nabegu – Special Services Office, OSGF
31. Amb. Bamgbose Akindele – Political Affairs Office, OSGF
32. Mr. Alo Williams Nwankwo – Economic Affairs Office, OSGF
33. Mrs. Obiageli Nwokedi – Special Duties Office, OSGF
34. Mr. Innocent Ogbonnaya -Career Management Office, OHCSF
35. Mr. S.K.Y. Adelakun – Common Services Office, OHCSF
36. Mrs. N. Batagarawa – Service Policy & Strategies Office, OHCSF

President Buhari had earlier ordered the mass retirement of 17 Permanent Secretaries in the Federal Civil Service.

No reason was given for their retirement.